Investors in Applied Therapeutics Urged to Join Class Action Following Major Stock Decline
In a significant development for shareholders of Applied Therapeutics, Inc. (NASDAQ: APLT), The Gross Law Firm has issued a notice urging investors who suffered financial losses due to recent stock volatility to join a class action lawsuit. This notice is particularly relevant for those who acquired shares of APLT during the period between January 3, 2024, and December 2, 2024.
The catalyst for this class action stems from a press release issued by Applied Therapeutics on November 27, 2024, announcing that the FDA had issued a Complete Response Letter (CRL) regarding the company's New Drug Application (NDA) for their lead drug candidate, govorestat. This CRL indicated that the FDA had completed its evaluation but could not approve the application due to identified deficiencies in the clinical application, which resulted in a staggering drop in stock price.
Prior to the news, shares of Applied Therapeutics closed at $10.21 on November 26, 2024. However, following the announcement, the price plummeted to $8.57 on November 27, a drop of over 15%. The decline continued sharply, with shares sinking further to $2.03 by November 29, and spiraling downwards to $1.75 by December 2, marking a total drop of more than 80% from its peak.
The situation worsened on December 2, when the company revealed it had received a 'warning letter' from the FDA that referenced issues from its clinical trials that contributed to the CRL. Investors reacted swiftly, leading to a further decline in stock price, which dipped to $1.69 on December 3, and fell to $1.29 by December 5.
The Gross Law Firm emphasizes the urgency for shareholders to register for this class action by February 18, 2025. Early registration allows shareholders to secure their position and be considered as lead plaintiffs, although this is not a requirement to participate in any pecuniary recovery. To register, investors can visit The Gross Law Firm's official class action webpage.
As part of the registration process, shareholders will be enrolled in a portfolio monitoring system, which will keep them updated on the case's progress. This proactive step is crucial for those looking to ensure their rights are protected following the major losses incurred from the stock's dramatic decline.
The Gross Law Firm, known for its national recognition in class action litigation and investor protection, reaffirms its commitment to advocating for those impacted by corporate malfeasance. They strive to hold companies accountable for misleading statements or material omissions that lead to stock inflation and subsequent losses.
Investors who wish to ascertain their eligibility or have inquiries regarding the class action are encouraged to contact The Gross Law Firm directly via their New York office, or through their online portal for securities loss submission. This class action presents a vital opportunity for affected shareholders to seek reparations and highlight the necessity for transparency and responsibility within the pharmaceutical sector.
The catalyst for this class action stems from a press release issued by Applied Therapeutics on November 27, 2024, announcing that the FDA had issued a Complete Response Letter (CRL) regarding the company's New Drug Application (NDA) for their lead drug candidate, govorestat. This CRL indicated that the FDA had completed its evaluation but could not approve the application due to identified deficiencies in the clinical application, which resulted in a staggering drop in stock price.
Prior to the news, shares of Applied Therapeutics closed at $10.21 on November 26, 2024. However, following the announcement, the price plummeted to $8.57 on November 27, a drop of over 15%. The decline continued sharply, with shares sinking further to $2.03 by November 29, and spiraling downwards to $1.75 by December 2, marking a total drop of more than 80% from its peak.
The situation worsened on December 2, when the company revealed it had received a 'warning letter' from the FDA that referenced issues from its clinical trials that contributed to the CRL. Investors reacted swiftly, leading to a further decline in stock price, which dipped to $1.69 on December 3, and fell to $1.29 by December 5.
The Gross Law Firm emphasizes the urgency for shareholders to register for this class action by February 18, 2025. Early registration allows shareholders to secure their position and be considered as lead plaintiffs, although this is not a requirement to participate in any pecuniary recovery. To register, investors can visit The Gross Law Firm's official class action webpage.
As part of the registration process, shareholders will be enrolled in a portfolio monitoring system, which will keep them updated on the case's progress. This proactive step is crucial for those looking to ensure their rights are protected following the major losses incurred from the stock's dramatic decline.
The Gross Law Firm, known for its national recognition in class action litigation and investor protection, reaffirms its commitment to advocating for those impacted by corporate malfeasance. They strive to hold companies accountable for misleading statements or material omissions that lead to stock inflation and subsequent losses.
Investors who wish to ascertain their eligibility or have inquiries regarding the class action are encouraged to contact The Gross Law Firm directly via their New York office, or through their online portal for securities loss submission. This class action presents a vital opportunity for affected shareholders to seek reparations and highlight the necessity for transparency and responsibility within the pharmaceutical sector.
Topics Financial Services & Investing）
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